Technology Sector Update for 11/19/2019: NOW,CELG,BMY,JKS,VNET

Top Tech Stocks

MSFT +0.40%

AAPL -0.44%

IBM +0.45%

CSCO +0.56%

GOOG -0.28%

Technology stocks were edging higher in Tuesday trading, with the shares of tech stocks in the S&P 500 climbing over 0.1% although the Philadelphia Semiconductor Index was falling just over 0.6%.

Among technology stocks moving on news:

(+) ServiceNow (NOW) climbed almost 5% on Tuesday after the cloud-computing company was selected to join the S&P 500 Index, replacing drug developer Celgene (CELG), which is being acquired by Bristol-Myers Squibb (BMY).

In other sector news:

(+) JinkoSolar Holding Co (JKS) rose nearly 12% after the photovoltaic-panel manufacturer reported non-GAAP net income of $0.86 per American depositary share, up roughly 16% over the same quarter last year and beating the Capital IQ consensus by $0.06 per share. Revenue increased 11.8% compared with year-ago levels to $1.05 billion, also topping the $1.02 billion analyst mean.

(-) 21Vianet Group (VNET) slid 7.7% after the Chinese data-center services company late Monday reported a Q3 net loss of $0.06 per American depository share and missed the two-analyst consensus expecting a net loss of $0.03 per ADS for the three months ended Sept. 30. Revenue rose 12.7% over year-ago levels to $137.2 million but also trailed the $147.51 million Street view.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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